Junior Cost Accountant

Precision Group; Dubai; On-site; AED 60,000 - 120,000; Full time

Job summary

A leading financial services company in the UAE is seeking a candidate to manage cost analysis, budgeting, and financial reporting. The ideal candidate should have a Bachelor's degree in Accounting or Finance and 1-2 years of experience in costing and budgeting within manufacturing or engineering environments. Strong proficiency in cost accounting principles and Excel is essential. This role involves collaborating with teams to ensure project profitability and implementing process improvements.

Qualifications

• Bachelor's degree in Accounting, Finance, Commerce or a related field is mandatory.
• Professional certification in Cost Accounting preferred (CMA, ICWA India etc.).
• 1-2 years of experience in costing, variance analysis, product costing, budgeting, inventory management.

Responsibilities

• Analyze process constraints, support budget preparation, and ensure accurate cost tracking.
• Monitor customer profitability and identify profit improvement opportunities.
• Implement business process improvements and utilize ERP system capabilities.

Skills

Cost accounting principles

MS Excel skills

Project management tools

Analytical skills

Communication skills

Time management

Education

Bachelor's degree in Accounting, Finance, or related field

Professional certification in Cost Accounting (CMA, ICWA)

Job description

Job Content

Responsible for the ongoing analysis of process constraints, target costing projects, margin analysis, and tracing costs back to underlying activities. Support Manager in preparing budgets and rolling forecasts, loading and unloading of costs and expenses to correct projects/jobs. Participate in the audit program to facilitate the finalization of financial statements, inventory management, costing and finance projects reporting.

Key Responsibilities

Costing and Pricing

• Develop and maintain standard costs of finished goods and production components
• Stay abreast of best cost matrices and trends in the packaging industry and advise management of same
• Pricing / costing of new and existing products and submit to GM and FM for review
• Managing price revision cycle ensuring timely and accurate price update
• Close coordination with project manager and sales team

Portfolio Management

• Monitor key customer / product profitability, perform analysis to identify profit improvement opportunities and work cross-functionally to monetize the ideas and define corrective actions to drive profit
• Responsible for tracking value generated by Cost Improvement & Value Generation activities
• Identify value opportunities and cost leakages
• Develop and implement tools and processes to guarantee the maintenance of the account profitability as per contractual agreement, including the reflection of cost variations in material and conversion in the regularly updated price lists
• Overall responsibility of product and customer portfolio analysis, proactively foster initiatives for portfolio optimization and support key account financial reviews
• Capex investment preparation and initial assessment against Companys KPIs

Process Continuous Improvement

• Support in business process improvements implementing best practices and fully utilizing ERP system capabilities
• In close collaboration with Finance team, present tool and process improvement ideas for a faster and more accurate response to customer enquiries; identify issues with existing procedures and use these findings to improve them or remove processes that aren't generating value
• Oversee the planning, development and implementation of project efforts that utilize information technology solutions, principles, standards and best practices
• Critical assessment of processes and formats with a continuous improvement eye to enhance current practices, improve efficiency and fully embed way of working
• Develop and implement best practices, processes and toolsets for effective portfolio/project management and take initiatives to educate staff on best practices and effective project execution
• Ensure all documents and records are up-to-date and that record traceability and retrieval is upheld at all times; ensure all processes, procedures & activities comply with ISO and management procedures
• Lead from commercial perspective the Budgeting / Forecasting processes

Management Reports

• Prepare various financial analysis related to manufacturing costs, inventory and expense information for various customers as needed for decision making support; provide critical assessment of all cost projections
• Analyze changes in product design, raw materials, manufacturing methods or services provided to determine effects on costs; analyze actual production costs and prepare periodic reports comparing standard costs to actual production costs
• Provide management with reports specifying and comparing factors affecting prices and profitability of products or services
• Weekly/monthly actual reporting assessment of performance vs Budget, previous period SOP; updating and maintaining databases including PCS and tonnage
• Work with all levels of leadership and relevant stakeholders to ensure project initiatives are managed and maintained; develop executive level presentations of the portfolio and project budget
• Ensure compliance to Safety, Quality, Food Safety and Environment requirements as specified in the global QHSE Management System with strict adherence to ISO and local regulatory authority

Requirements

Education / Qualifications

Bachelors degree in Accounting, Finance, Commerce or a related field is mandatory.

Professional certification in Cost Accounting preferred (CMA, ICWA India etc.).

Experience

1-2 years of experience in costing, variance analysis, product costing, budgeting, inventory management in Manufacturing/Engineering/Industrial or production-driven environments.

Functional Skills & Specific Knowledge

• Cost accounting principles and financial reporting standards in line with International Financial Reporting Standards
• Knowledge of MS Excel tools and techniques
• Knowledge & understanding of standard project management tools
• Analytical & detail-oriented ability to analyze complex data and provide insights
• Communication skills: ability to explain financial information clearly to non-financial stakeholders
• Time management & organization: handle multiple projects or deadlines